News Corp., with assist from cable holdings, enjoys strong quarter

News Corp. for the quarter ended Dec. 31 saw its profit more than double to $2.38 billion, thanks to strong showings by FX, Fox News and its regional sports networks. Revenue was up 5% to $9.43 billion. The cable network programming unit tallied the most growth among entertainment holdings, posting an 18% increase in revenue to $2.6 billion and a 7% rise in operating income to $945 million. Ad revenue at its U.S. cable networks rose 8%, while outside-the-U.S. ad revenue increased 29%.